Advertisement

Qatar's QInvest exits London realty fund

Image used for illustrative purpose only. Cleaners abseil down one of the faces of Big Ben, to clean and polish the clock face, above the Houses of Parliament, in central London . REUTERS/Toby Melville

Image used for illustrative purpose only. Cleaners abseil down one of the faces of Big Ben, to clean and polish the clock face, above the Houses of Parliament, in central London . REUTERS/Toby Melville

Reuters/Toby Melville

20 February 2017
By Satish Kanady

QInvest, Qatar’s leading Islamic investment bank and one of the region’s prominent Islamic financial institutions, yesterday announced exiting the St. Edmund’s Terrace LP Fund (the “Fund”). The Fund, which was structured in a Sharia’a compliant manner, was jointly owned by QInvest and a range of GCC institutional and retail investors. It invested £50m into developing a new, prime residential project through a real estate development company.  

The Fund was created to provide investors with the opportunity to invest in London’s prime residential market. At completion, the Fund generated 22 percent net returns to investors, which is in excess of initial projected returns in the Fund’s Private Placement Memorandum (“PPM”).

The project, 50 St. Edmund’s Terrace, is located in the heart of London’s affluent neighborhood, St John’s Wood. Tamim Hamad Al-Kawari, Chief Executive Officer of QInvest, said: “We are very pleased with the performance of the Fund. QInvest has a successful track record in providing investors with access to investments in international markets offering above-market risk-adjusted returns."

Advertisement
© The Peninsula 2017
Advertisement

Trending on Zawya

In the last 24 hours

Advertisement
Advertisement